Maldives is facing “a high risk of external debt distress”

Maldives is facing “a high risk of external debt distress” due to financing the large-scale projects entirely with external loans.

The International Monetary Fund had released a report about Maldives economic growth. IMF report stated that the Maldives economic condition has deteriorated under Yameen’s Government . The International Monetary Fund (IMF) has expressed grave concern over high levels of fiscal deficits and public debt pose a significant risk, as the country is structurally spending beyond its means. IMF warned that the Maldivian economy currently faces large and growing imbalances.